Germany's Oxea proceeds with expansion of Texas oxo products plant

17 May 2013 13:12[Source: ICIS news]

HOUSTON (ICIS)--Oxea has decided to proceed with a 25% capacity expansion of its oxo-chemicals products plant in Bay City, Texas, the Germany-based oxo intermediates and oxo derivatives producer said on Friday.

The decision to move ahead comes after the successful conclusion of a feasibility study, the company said.

The expansion is expected to come on line in the second half of 2014, in conjunction with a scheduled maintenance turnaround, it added.

“The majority of our added capacity will be used to satisfy growth in our current customer portfolio and to allow the room to evaluate additional customers,” said Oxea executive board member Miguel Mantas.

“This expansion takes advantage of the US shale gas economics, and it enables us to meet the needs of our regional customer portfolio and help them grow in their business,” Mantas added.

Oxea did not disclose the plant’s current capacity, and did not state how much the expansion is expected to cost.